Italy authorities seize millions in tax and loan fraud investigations

Italian authorities have uncovered two significant fraud schemes involving tax credits and state-guaranteed financing.

In Bologna, the Guardia di Finanza dismantled a complex fraud involving the fictitious creation and sale of ‘ACE’ (Aid to Economic Growth) tax credits. The investigation led to the seizure of approximately 3.18 million euros and the indictment of 12 individuals, including three professionals and one entrepreneur. The scheme targeted credits designed to allow companies to deduct income based on increases in equity. The investigation began after two companies reported unauthorized access to their tax files and the theft of credits valued at over 1 million euros.

In a separate investigation, authorities seized 4 million euros following allegations of aggravated fraud, money laundering, and false corporate communications involving Imperia srl. Prosecutors allege the company obtained a state-guaranteed loan of over 4.7 million euros for the purchase of 3,500 electric scooters that were never actually imported from the United States. The loan was facilitated through Banca Progetto with a guarantee from the Mediocredito Centrale fund, managed by Invitalia.